SOC100H5 Lecture Notes - Lecture 6: Social Stratification, Cultural Capital, Human Capital
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SOC100H5 Full Course Notes
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Shipwrecks and inequality shipwreck stories show inequality (ex. Titanic, first class passengers get priority for lifeboats), yet equality as well (ex. Jack and rose fall in love even though they"re from different classes) social stratification: the way society is organized in layers or strata. Wealth: wealth= assets minus liabilities (ex. house w/o the mortgage, wealth gives you health and political advantages the rich are getting richer and the poor are getting poorer. Income the amount of money earned in a given period income gaps have been widening b/w rich and poor taxes help minimize the gap as the rich lose 1/5th of their income and the poor"s income increase by 2/3. Explanations of income inequality: genes play minor role in determining income (ex. small amount of ppl that are naturally good singers shania. Twain: effort alone does not result in high income, human capital: investment in education and training.
